Canada’s merchandise exports in June rose 1.4 percent month-to-month, while imports inched up 0.6 percent, resulting in a trade deficit of C$469 million (about US$451.9 million), compared with C$781 million in May, according to Statistics Canada.
Exports rose to C$39.6 billion in June, driven by unwrought precious metals and precious metal alloys, passenger cars and light trucks, and aircraft. Overall, volumes were up 2.1 percent, while prices slid 0.6 percent.
Imports increased to C$40.0 billion, fueled by gains in imports of crude oil and crude bitumen and aircraft, which was partially offset by lower imports of lubricants and other petroleum refinery products, communications and audio and video equipment, and pharmaceutical and medicinal products. Overall, volumes decreased 0.5 percent, while prices rose 1.1 percent.
Monthly exports to the U.S. increased 1.5 percent to C$29.4 billion, while imports from the U.S. declined 0.8 percent to C$25.6 billion. As a result, Canada’s trade surplus with the U.S. increased from C$3.2 billion in May to C$3.8 billion in June. Year-to-date totals for imports from the U.S. reached C$153.3 billion in June, the highest value on record.
Imports from countries other than the U.S. increased 3.3 percent to C$14.5 billion, and exports to countries other than the U.S. were up 1.4 percent to C$10.2 billion. Consequently, Canada’s trade deficit with countries other than the U.S. widened from C$3.9 billion in May to C$4.3 billion in June.